New partnership helps providers say “yes” to more patients amid public health crisis, expanding approvals through seamless, digital application process
SAN FRANCISCO--(BUSINESS WIRE)--Covered Care, a division of Covered Holdings, announced today its partnership with Healthcare Finance Direct (HFD), a leading FinTech company offering healthcare providers an enterprise-grade patient finance origination and servicing platform. Through the partnership with HFD, Covered Care will offer nearly 100% approval rates for sub-prime patients, a hassle-free application process, affordable credit terms, and world-class customer service -- with no risk of loss to the healthcare providers.
“HFD is the industry leader for in-house patient financing solutions, and has created a seamless patient application process that integrates with top-tier credit providers. We’re thrilled to partner with them to make it possible for their customers -- some of the nation’s largest elective healthcare providers -- to serve patients who are declined for traditional credit,” said Ken Rees, Founder and CEO of Covered Holdings. “The pandemic has created innumerable challenges for so many Americans -- we’re committed to expanding access to affordable healthcare financing in these uncertain times.”
According to the Kaiser Family Foundation, about 30% of adults had problems paying medical bills in the past year. The coronavirus pandemic has exacerbated this need for affordable credit options in the healthcare industry at the same time that traditional credit providers have tightened credit standards and lowered approval rates.
“Our providers have been looking for improved options for financing patients that include immediate funding and eliminating the risk of loss on patient receivables,” said Steve Neitzke, Chief Financial Officer at HFD. “Covered Care has a unique sub-prime offering that approves nearly all patients and addresses this enormous need in the market.”
About Covered Care
Covered Care was founded by a group of fintech industry veterans to provide better healthcare financing solutions for underserved Americans. Using new technology and analytics, Covered Care enables medical professionals to offer affordable financing for nearly all of their patients. Covered Care falls under the umbrella of Covered Holdings offerings, including Covered Credit, which give people “credit at the speed of life.” Visit coveredcare.com for more information.
About Healthcare Finance Direct
Healthcare Finance Direct (HFD) is a leading FinTech company founded by a team of technology and finance professionals to address the needs of healthcare professionals seeking opportunities to offer patients greater access to treatment. The HFD platform allows healthcare providers to offer pay-over-time options to patients that are declined for traditional credit. Visit healthcarefinancedirect.com for more information.
For more information on the Covered Care – HFD partnership visit https://resources.healthcarefinancedirect.com/sub-prime-financing-with-hfd-covered-care